China: 10 Years in the WTO. Part 2

As for China, significant adjustments have been made in agriculture, industry and services.

Numerous state-owned enterprises were consolidated to counteract the increased pressure from the elimination of a huge number of customs duties.
Nevertheless, WTO membership has provided China with an influx of capital, technology, increased reform and competition, and enabled the creation of new sectors of the economy. Competition, in industries such as banking, has increased the level of service and led to the emergence of new products. In addition, China's membership in the WTO has helped remove the political component from trade disputes.
For the outside world, China's accession to the WTO has brought many benefits. Greater access to the Chinese market has benefited foreign companies, which have been assisted in selling goods and services in the country. Companies have expanded their presence in the regions, reduced power supply costs, and lowered production costs.
Foreign governments and business associations note that China is fulfilling its WTO obligations. In particular, they noted progress in reducing duties, changing laws and administrative structures, and opening up different sectors of the market.
But there are also claims, such as intellectual property protection (TRIPS agreement). There is serious questions for China on the agreement "On Investment Measures," in particular, the paragraphs "use in the production process of a certain amount of material resources of the host country," "Technology Transfer Requirements," which constitute discrimination against foreign goods
In addition, other parties noted serious concerns about Chinese government procurement, technical product standards, and innovation policies.
On the eve of the 10th anniversary of China's accession to the WTO, some countries believe that China should play a leading role in the current WTO stagnation because it is a key player in the system and can play an important "intermediary" function
given its extensive ties with both developed and developing countries.
In contrast, some fear Chinese activism in the WTO, given that China has intentions to radically reform the multilateral trading system so that the system takes into account the interests of developing countries. "The Celestial Empire has repeatedly claimed that WTO rules are "imperfect and unfair. It is fair to say that Beijing agrees with the view that "the status quo should be preserved," but rules out systemic reform of the WTO, at least in part.
Almost 10 years ago, China became a member of the WTO. Its membership never meant that trade disputes would cease. Indeed, not a day seems to go by without trade complaints against China. Whatever happens, the WTO, after all, has brought most acute disputes back into the mainstream, providing all countries, including China, with mechanisms to protect their interests. It is thanks to China's accession to the WTO 10 years ago that it has become such a powerful force in the international arena.

According to the foreign press for ForTrader.org